Page 17 - Glossary of Shipping Terms

SHIPPING TERMS

TERM DESCRIPTION
Value for Duty
Vanning The value which is declared to the customs at the port of discharge for the purpose of assessing customs
Ventilated Container duty.
Vessel's Manifest
VGM A term sometimes used for stowing cargo in a container.
Voyage Number
A container designed with openings in the side and/or end walls to permit the ingress of outside air
Waybill (WB) when the doors are closed.

Wharfage (Whfge.) Statement of a vessel's cargo (revenue, consignee, marks, etc.).
World Trade Organization
(WTO) Verified Gross Mass Is a condition of loading in compliance with The Safety of Life at Sea Convention
(SOLAS). The shipper is responsible for the verification of the packed cargo weight.

The numeric identification of a round trip sailing of a vessel on a fixed trade lane.

A document prepared by a transportation line at the point of a shipment; shows the point of the
origin, destination, route, consignor, consignee, description of shipment and amount charged for
the transportation service. A waybill is forwarded with the shipment or sent by mail to the agent at
the transfer point or waybill destination. Abbreviation is WB. Unlike a bill of lading, a waybill is not a
document of title.
Charge assessed by a pier or dock owner against freight handled over the pier or dock or against a
steamship company using the pier or dock.

The international organisation dealing with the global rules of trade between nations. It was created,
and replaced GATT. Its main function is to ensure that trade flows as smoothly, predictably and freely
as possible

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